Core Viewpoint - The article emphasizes the importance of the satellite communication industry as a strategic and foundational sector for economic and social development, highlighting the recent initiatives to commercialize satellite IoT services in China [1]. Group 1: Industry Development - The satellite communication industry is recognized as a crucial component of new infrastructure, applicable in mobile user services, remote operations, and advanced application fields [1]. - The Ministry of Industry and Information Technology announced a two-year commercial trial for satellite IoT services, aiming to enrich the satellite communication market and support the healthy development of emerging industries like commercial aerospace and low-altitude economy [1]. Group 2: Future Opportunities - The article discusses the need for the communication industry to leverage the development opportunities presented by the integration of space and terrestrial networks, focusing on enhancing technical capabilities and expanding application scenarios [2]. - The integration of satellite communication with 6G technology is highlighted as a key area for improving the intelligence and collaboration levels within the information industry, which is essential for supporting the digital transformation of the national economy and society [2].

Core Viewpoint - The IoT concept stocks have strengthened, with notable increases in companies such as ZTE Corporation reaching the daily limit, and Zhongji Xuchuang and Zhaoyi Innovation rising over 4% [1] Group 1: Market Performance - The ETF tracking the CSI IoT Theme Index has increased by over 2% due to market influences [1] - Specific IoT ETFs have shown positive performance, with the following price changes: - Southern IoT ETF (159896) at 1.118, up 0.032 (2.95%) - E-Fund IoT ETF (159895) at 1.199, up 0.034 (2.92%) - CMB IoT ETF (159701) at 1.110, up 0.031 (2.87%) - IoT 50 ETF (516260) at 1.194, up 0.032 (2.75%) - IoT ETF (516330) at 1.376, up 0.036 (2.69%) [2] Group 2: Industry Developments - The Ministry of Industry and Information Technology has recently issued a notice to organize the commercial trial of satellite IoT services [2] - Satellite IoT services are defined as low-speed data services that provide wide-area IoT connectivity through satellite communication technology for various devices and transportation means [3] - The development of satellite IoT is a significant initiative to support commercial aerospace and is crucial for deepening reforms and developing new productive forces [3]

Domestic Market Overview - The domestic market showed a narrow range of consolidation with mixed performance on November 26, with the Shanghai Composite Index closing at 3864.18 points, down 0.15%, while the Shenzhen Component Index rose 1.02% to 12907.83 points. The ChiNext Index increased by 2.14% [1][4][9] - Among the 30 sectors tracked, 9 sectors saw gains, with telecommunications, electronics, and retail leading the increases, while defense, media, and oil & petrochemicals experienced significant declines. Active indices included optical modules and optical circuit switches [1][4][9] Overseas Market Overview - On the same day, all three major US stock indices closed higher, with the Dow Jones up 0.67%, the S&P 500 up 0.69%, and the Nasdaq up 0.82%. Notable performers included Oracle, which rose over 4%, and Broadcom, which increased by more than 3% [2][4] Key News Highlights - China and the EU discussed trade issues related to ASML semiconductor matters, emphasizing the need for constructive communication to stabilize the global semiconductor supply chain [10][12] - A joint announcement from six departments aimed to enhance the adaptability of consumer goods supply and demand, promoting consumption [14][15] - The Ministry of Industry and Information Technology initiated commercial trials for satellite IoT services, aiming to provide wide-area connectivity for various devices [16] - Guangdong province encouraged listed companies to utilize shares and other payment tools for mergers and acquisitions, focusing on building world-class industrial clusters [17][18] - Vanke is seeking an extension for a 2 billion yuan domestic bond, with a meeting scheduled for December [19]

11月27日截至13点36分，航空航天 ETF（159227）盘中翻红，涨幅0.27%，成交额达1.58亿元，稳居同 类第一。持仓股中，威海广泰、航宇科技、国博电子等涨幅居前。作为全市场规模最大的航空航天类 ETF，航空航天ETF（159227）最新规模20.57亿元，最新份额18.46亿份，均创成立以来新高。 今日，工业和信息化部宣布，我国卫星物联网业务商用试验正式启动。卫星物联网业务是指通过卫星通 信技术连接各类物联网设备，为各类终端以及交通工具提供广域物联网连接的一种低速数据业务。此次 商用试验将通过开展卫星物联网业务商用试验，丰富卫星通信市场供给，激发市场主体活力，提升行业 服务能力，建立安全监管体系，形成可复制可推广的经验和模式，支撑商业航天、低空经济等新兴产业 安全健康发展。 中泰证券表示，商业航天产业正进入新一轮高速发展期，我国商业航天企业数量已超过600家，商业航 天发射工位合计25个，GW星座组网发射明显提速，可回收火箭技术即将进入关键验证阶段，太空算力 建设是大势所驱。商业航天产业拐点已现，近期板块有望迎来密集催化，建议重点关注商业航天方向投 资机会。 （文章来源：每日经济新闻） 航空航天 ...

Core Viewpoint - The Ministry of Industry and Information Technology has initiated a two-year commercial trial for satellite IoT services, which is a significant step in supporting commercial aerospace development and enhancing new productive forces [1] Group 1: Satellite IoT Business Overview - Satellite IoT services utilize satellite communication technology to provide wide-area IoT connectivity for various devices, including data collection terminals, wearable devices, handheld terminals, and transportation tools such as cars, ships, and airplanes [1] - The commercial trial aims to serve enterprises and institutions that utilize satellite IoT for applications in industries such as industrial, transportation, energy, agriculture, and emergency services [1] Group 2: Objectives of the Trial - The trial aims to enrich the supply of satellite communication services, enhance industry service capabilities, establish a safety supervision system, and create replicable and promotable experiences and models [1] - The initiative supports the safe and healthy development of emerging industries such as commercial aerospace and the low-altitude economy [1]

（文章来源：新华财经） 新华财经北京11月26日电工业和信息化部发布关于组织开展卫星物联网业务商用试验的通知。通知称， 申请开展卫星物联网商用试验的企业，应通过构建卫星物联网系统，以及业务支撑系统（BSS）、运营 支撑系统（OSS）和管理支撑系统（MSS），依法依规在全国范围开展卫星物联网业务。通过开展卫星 物联网业务商用试验，丰富卫星通信市场供给、激发市场主体活力、提升行业服务能力、建立安全监管 体系，形成可复制可推广的经验和模式，支持商业航天、低空经济等新兴产业安全健康发展。 ...

Group 1 - The satellite internet concept is active in the market, with companies like 雷科防务 (Leike Defense) achieving three consecutive trading limits, and 达华智能 (Dahua Intelligent) and 特发信息 (TeFa Information) rising over 7% [2] - The Ministry of Industry and Information Technology has announced the organization of commercial trials for satellite IoT services, which is driving interest in related stocks [2] - The gaming sector is experiencing a downturn, with 富川股份 (Fuchuan Co.) dropping over 4%, and other companies like 汤姆猫 (Tom Cat) and 星辉娱乐 (Star Shine Entertainment) also declining [2][3] Group 2 - The A-share market opened with all three major indices declining slightly, with the Shanghai Composite Index down 0.07% to 3867.43 points, the Shenzhen Component Index down 0.06% to 12769.93 points, and the ChiNext Index down 0.14% to 2976.70 points [3] - Energy metals, engineering machinery, and organic silicon concepts are performing well, while the 中船系 (China Shipbuilding System) sector is leading the decline [3] - The Hong Kong market opened positively, with the Hang Seng Index up 0.59% and the Hang Seng Tech Index up 0.67%, driven by a recovery in the lithium battery supply chain and pharmaceutical stocks [4]

Core Viewpoint - The Ministry of Industry and Information Technology (MIIT) has announced the launch of commercial trials for satellite Internet of Things (IoT) services, emphasizing its significance in supporting commercial aerospace development and enhancing new productivity [1]. Group 1: Trial Content - Satellite IoT services involve low-speed data communication through satellite technology for various devices, including data collection terminals, wearable devices, and transportation tools like cars and ships [2]. - Enterprises applying for the commercial trials must establish a satellite IoT system along with business support systems (BSS), operational support systems (OSS), and management support systems (MSS) [3]. - The target users for these services include industries such as manufacturing, transportation, energy, agriculture, and emergency services that utilize satellite IoT for data collection and transmission [4]. - The goal of the trials is to enrich the satellite communication market, stimulate market vitality, enhance service capabilities, and establish a regulatory framework to support the healthy development of emerging industries like commercial aerospace and low-altitude economy [5]. Group 2: Application and Approval Process - Enterprises must meet specific conditions to apply for the trials, including being a legally established company, having adequate funding and professionals, and possessing necessary facilities that comply with relevant regulations [6]. - The application process involves submitting materials to the local communication management bureau, which will conduct a preliminary review before forwarding to MIIT for expert evaluation and approval [8]. Group 3: Business Operation Requirements - Approved enterprises must fulfill responsibilities such as constructing the satellite IoT system, ensuring network security, and providing long-term services to users [9]. - They are required to reserve satellite communication resources, sign contracts with users, and comply with various safety and management regulations [9][10]. Group 4: User Management - Enterprises utilizing satellite IoT must manage usage scenarios effectively, adhering to regulations regarding the management of IoT devices and prohibiting illegal activities [11]. Group 5: Exit Mechanism - MIIT can revoke trial qualifications for enterprises that fail to provide services on time or engage in serious violations, ensuring user rights are maintained during the exit process [12]. Group 6: Organizational Management - MIIT is responsible for the organization, supervision, and evaluation of the commercial trials, while local communication management bureaus will handle applications and provide guidance [13][14]. Group 7: Trial Summary - The trial period is set for two years, during which approved enterprises must report their progress annually, and MIIT will evaluate and promote successful experiences and models [15].

Core Viewpoint - The Ministry of Industry and Information Technology has announced the organization of commercial trials for satellite IoT services, which utilize satellite communication technology to provide wide-area IoT connectivity for various devices and vehicles [1] Group 1: Satellite IoT Business Overview - Satellite IoT services refer to low-speed data services that connect data collection terminals, wearable devices, handheld terminals, and transportation tools such as cars, ships, and aircraft through satellite communication technology [1] Group 2: Requirements for Commercial Trials - Companies applying for satellite IoT commercial trials must construct a satellite IoT system along with business support systems (BSS), operational support systems (OSS), and management support systems (MSS) [1] - The trials must be conducted nationwide in accordance with laws and regulations [1]

Core Viewpoint - The military industry is experiencing significant growth due to low congestion levels, strong third-quarter financial performance, and increasing military trade orders, making it a sector to watch for investment opportunities [2][5]. Group 1: Market Performance - The military industry has shown resilience, with lower declines compared to other sectors during market downturns [2]. - On a recent day, the military sector led the market rebound, with the defense military industry index rising significantly, outperforming other sectors [3]. - The military leading ETF (512710) saw a daily increase of 3.97%, indicating strong investor interest [3][4]. Group 2: Financial Indicators - The "pre-receivable accounts + contract liabilities" growth rate in the defense military sector is the highest among 31 primary industries, suggesting robust future earnings potential [2]. - Despite recent gains, the leading military stocks still have relatively low year-to-date growth, indicating potential for further appreciation [6]. Group 3: Long-term Trends - The military industry is expected to benefit from China's increasing global standing in defense and the positive impacts of the five-year planning initiatives [5]. - The recent launch of satellite IoT business trials marks a significant step towards large-scale commercial applications, likely increasing demand for satellite manufacturing and rocket launches [7][8]. - The anticipated first flight of the reusable rocket "Zhuque-3" is expected to reduce launch costs significantly, further stimulating the satellite internet industry [9]. Group 4: Sector Opportunities - The core growth area within the military sector is aerospace, particularly with the recent developments in satellite communication and IoT applications [7]. - The satellite ETF (563230) also performed well, with a daily increase of 3.79%, reflecting strong market interest in satellite-related companies [10].